Rental Property Investor · Palm Bay, FL · Member since 2009 · 511 posts · 290 votes
I just saw this program on two webinars last week.....Cameron is offering transactional funding and charging 3%...and POF's, and the Iflip program to generate leads on houses (via birdogs) and to increase your buyer's list.....
Has anyone tried this? Can I get some reviews before I spend the $1,000 on this (even though it's a deposit and I get it back after he funds my first deal...)
Real Estate Investor · ten mile, TN · Member since 2009 · 1k+ posts · 374 votes
17y
Save your money!!!!!!!!!!!!!
Most webinars are reprints of what is available informaion on the web and or right here on bigger pockets.
Put "transactional funding" in the search box at the top right of the page and you will find almost everything you need to know about it without spending that money. All it takes is reading!!!!!!!!!
There are quite a few threads to read through including some talking about the companies mentioned.
Real Estate Investor · Tempe, AZ · Member since 2009 · 1 post · 1 vote
16y
I just paid Cameron $1000, and will give it a try for 15 days crash course. Hoping Priscilla will give an update on her course through the course and any advice for a Cemeron newbie.
Rental Property Investor · Palm Bay, FL · Member since 2009 · 511 posts · 290 votes
16y
Sorry guys, I've been busy and I have to manage my time the best possible way. I'm going through a deal right now, and I will be using Cameron's funds. There is a little title issue with the property. I explain once is all done. I cannot say I've used the funds, but I'm about to use them pretty soon. I update you guys on the whole transaction. Thanks.
Priscilla,
Do you know if Cameron will let us use his buyers list as a backup? I asked this question on the webinar tonight but it was not answered. As of right now, I only have five reliable buyers, but would like more options.
Real Estate Investor · Evansville, IN · Member since 2010 · 26 posts · 5 votes
16y
Originally posted by Priscilla Z:
I'm still working the this deal, the property needs to be re-foreclosed, so it is going to take time. I come back with news!!
Hey Priscilla --
We're in S.W. Indiana and we're looking at Cameron's iFlip/1-day-dough system as well. How's it going for you?
According to city-data it looks like your metro-area housing market has taken a beating! Great time to be in the market, isn't it?
I've got some specific questions for you--
In our dinky Hoosier metro area there aren't as many people, so we're wondering if the bird-dog aspect of Cameron's iFlip system will help at all... Do you have any sense for what factors would make the bird-dog system more effective or less effective?
Another aspect of his iFlip system is that your inventory shows up for of his nationwide investor network, meaning that your houses should show up on a nationwide site, improving your chances of finding buyers. Have you found that to be the case?
Hope things are well with you, and looking forward to hearing more about your iFlip experiences :)
Real Estate Investor · Columbus, GA · Member since 2009 · 36 posts · 6 votes
16y
Karen, I use iFlip for keeping track of my buyers, sellers, birddogs and it works great. Also remember, you don't just have to find birddogs in your area. You can branch out to other cities and states. Search the forums and you can learn about virtual wholesaling.
Real Estate Investor · Evansville, IN · Member since 2010 · 26 posts · 5 votes
16y
Originally posted by Adrian Johnson:
Also remember, you don't just have to find birddogs in your area. You can branch out to other cities and states. Search the forums and you can learn about virtual wholesaling.
Interesting -- so your website doesn't engourage geographic boundaries such as "Columbus Homes" or "Evansville Homes"? Or did you start out geographically oriented, and then let things expand organically?
Real Estate Investor · Evansville, IN · Member since 2010 · 26 posts · 5 votes
16y
Originally posted by Adrian Johnson:
Karen, I use iFlip for keeping track of my buyers, sellers, birddogs and it works great.
So the real question is, how long does it take? After you get iFlip up and running, and do some craigslist/google-adwords marketing to get some attention, how long before you see your website actually bringing deals and buyers together?
Real Estate Investor · Columbus, GA · Member since 2009 · 36 posts · 6 votes
16y
I'm still new to it, but I'm working on offers right now and hope to have a deal completed soon. Really, it matters on your own pace as to how fast you want things to go. As far as geographic boundaries, I'm expanding little at a time. iFlip is just a tool of many out there. You may find something better, or want to invest in building your own things. Matters on your own needs.
Real Estate Investor · Marina, CA · Member since 2009 · 36 posts · 0 votes
16y
Good Day!
Does anyone have the link for the discount purchase price? Does this software also give a contract template to produce multiple offers? I'm in need of some software for that as well. Any help will do.
I am new to BP. Seems like a cool site. I too found it through a Cameron Dunlap webinar doing a search on iflip. Great information from Priscila. Priscila, I am wondering if you have closed on anything yet from the 1 day dough program considering you bought it back in July/August '09? just curious. if you could let me/us know that would be great. I also wouldnt mind becoming one of your bird dogs to learn from the bottom up. Let me know. thx.
Mobile, AL · Member since 2010 · 238 posts · 44 votes
16y
I spoke with an escrow company to see if they would do a simultaneous REO closing. They will but indicated the problem would be with the mortgage companies. The escrow exec said banks may balk if the B-C price exceeds the A-B by 30%, even if the C (buyer) uses cash. Has anyone here tried to do a simultaneous sale and the bank said no due to the mark up? Also, it was suggested getting a property before it is listed on MLS (shown as sale pending when the property gets on the MLS) was unscrupulous if not illegal. Any comments?
Real Estate Investor · Los Angeles, CA · Member since 2010 · 59 posts · 5 votes
16y
hi Doug, you should contact Priscilla http://www.biggerpockets.com/users/TanoHomes as she says that she's had sme success dealing with this type of strategy.
Rental Property Investor · Palm Bay, FL · Member since 2009 · 511 posts · 290 votes
16y
Hi everyone.
Sorry I've been absent. I had a death in the family and have been trying to get things together, so real estate was put on hold for a while.
However, I now have the energy to return! Since I started this review I will continue it with all honesty.
After much consideration I canceled my bird dog account as well as my buyers accounts. Why? Well, I wasn't putting the time or they energy into them that they deserved. There's a lot of competition in my market, so, bird dogs or no bird dogs, the big investors with the big money are the ones getting to see the deals before they get on the MLS.
Someone mentioned this being illegal? I'm not a lawyer so I can't counsel on the legalities of things. But I can explain how they do it. The realtor sends the listing to their investors BEFORE it's posted on the MLS. That way, the investors have the opportunity to run their numbers and put an offer together. Yes, the listings probably do go on the MLS but offers are most likely already on the table.
I'm not a realtor, maybe someone wants to give their two cents?
Going back to Cameron's program, the deal that we almost closed was ready on Cameron's end. Their customer service team is GREAT. They guided us step by step, and Cameron even called the lawyer on our team and explained everything to him. The only reason the deal did not go through was, like I mentioned before, because the house was not foreclosed on properly and there was still a lien on it. It is currently being re-foreclosed on.
With that said, I still like Cameron's funding program. His 3% definitely works in my market, and I will hopefully be putting another deal together in the near future. My market great to invest in....and the prices seem to be getting better and better.
I do want to share one more thing, for those of you computer savy that want ways to do things yourself (like me). Go to google (or yahoo if you like it better) and search for Zoho Creator (yes, I have put this up in another forum post). There you can create a free database of your liking and put it on your website. You can capture buyers, sellers, whatever you choose to use it for. I use it on my website and absolutely LOVE it.
I hope I've been helpful with this update. Anymore questions, just ask....because....I'M BACK!!!
Investor, Entrepreneur, Educator · Springfield, MO · Member since 2009 · 21k+ posts · 12k+ votes
16y
Hi, generally, a Realtor has to have listed properties registered in the MLS system within a couple days or so. In my area, it's close of business the next day. Plenty of time for phone calls to be made to their favorite buyers. Just become a favorite buyer! Bill